Lagarde and Van der Bellen Urge EU Capital Markets Union for AI Sovereignty

ECB President Christine Lagarde and Austrian Federal President Alexander Van der Bellen have called for a European Capital Markets Union to secure Europe's technological sovereignty in artificial intelligence.

Lagarde warned that a lack of venture capital financing threatens the continent's independence, estimating that up to 600 billion euros would be needed over the next ten years to close the gap in data centers and semiconductor chips.

Van der Bellen emphasized that private investment is key to transformation, urging business leaders to invest, create jobs, and drive innovation. He called for a genuine European capital market, saying 'Let's not make ourselves smaller than we are.'